Gold price on Kitco floor at 9:00 p.m. (February 13, Vietnam time) was trading at 2,908.9 USD/ounce, up 0.24% compared to the beginning of the session. Gold futures price for April 2025 delivery on Comex New York floor was trading at 2,967.1 USD/ounce.

At the beginning of the trading session on February 13 (US time), the world gold price increased again but was still far from the record level (more than 2,940 USD/ounce) after the US announced the number of unemployment benefit applications was 213,000, down 7,000 applications compared to the forecast.

This has raised hopes, albeit small, among investors that the US Federal Reserve (Fed) will cut interest rates sooner this year.

Gold is caught in a tug-of-war between safe-haven demand and inflation data. Concerns about a global trade war sparked by new tariffs imposed by U.S. President Donald Trump continue to drive investors to the metal.

However, the recently released US inflation report showing higher-than-expected inflation has curbed the precious metal's gains.

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World gold prices increase again, domestic prices also escalate. Photo: Pham Hai

David Meger, director of metals trading at High Ridge Futures, said the better-than-expected CPI data weighed on the gold market. It’s clear that any expectations of a rate cut later this year have been dashed at this point.

Higher interest rates tend to put pressure on bullion, increasing the opportunity cost because bullion does not pay interest, analysts say.

While the higher interest rate scenario has put some pressure on gold, the trend remains positive and concerns about the US-China trade war continue to drive the market, said Peter Grant, vice president and senior metals strategist at Zaner Metals.

In the domestic market, at the end of the session on February 13, the price of 9999 gold bars at SJC and Doji was 87.7 million VND/tael (buy) and 90.7 million VND/tael (sell).

SJC announced the price of gold rings of type 1-5 at only 87.7-90.5 million VND/tael (buy - sell). Doji listed the price of 9999 smooth round gold rings at 89-90.7 million VND/tael (buy - sell).

Gold Price Forecast

Many experts predict that the price of gold could reach $3,000/ounce in the first quarter of 2025. However, some factors may affect the rate of price increase. If the Fed moves to raise interest rates to control inflation, the price of gold may stagnate.

Nicky Shiels, a valuer at MKS PAMP SA (a group that supplies, refines and trades precious metals), believes that gold prices could continue to rise to $3,200 an ounce.

On Kitco, President of House of Kahn Estate Jewelers - Tobina Kahn commented that the spot gold price will soon reach 3,000 USD/ounce in the current world context, even saying that many people have thought of the price of 4,000-6,000 USD/ounce.

Gold price today February 13, 2025 increased sharply, SJC and gold rings jumped to nearly 91 million. Gold price today February 13, 2025 reversed and increased sharply, surpassing 2,900 USD/ounce on the international market. Domestically, SJC gold bars and gold rings increased by 1 million VND/tael, jumping to nearly 91 million VND/tael.